Columbus McKinnon Corp. said Tuesday it will raise its quarterly dividend by 20%, to 6 cents a share from 5 cents. The motion control products maker's new dividend will be payable May 13 to shareholders of record on May 3. Based on Monday's stock closing price of $33.35, the new annual dividend rate implies a dividend yield of 0.72%, compared with the implied yield for the S&P 500 of 2.03%, according to FactSet. Separately, the company approved a new $20 million stock repurchase program. The stock, which was still inactive in premarket trade, has gained 10.7% year to date while the S&P 500 has climbed 11.6%.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Big Vehicle Is Big Winner As Ford Boosts Output Of Expedition SUV By Another 20%Ford is riding the 'big' wave by significantly boosting production of its mammoth Expedition for the second time in two years, as the latest version of its largest SUV continues to gobble up market share in a three-row utility-vehicle segment that just keeps expanding.
Read more »
Columbus Police Abolishes Vice UnitThe Columbus, Ohio police chief announced he is abolishing the Vice Unit - currently under investigation by the FBI. Most Vice operations were frozen in the fall, prompted by the fatal shooting of Donna Castleberry and arrest of porn star Stormy Daniels.
Read more »
Federal Reserve policy makes this dividend-stock strategy even more importantWith long-term interest rates so low, stocks may be the best way for investors to grow their income.
Read more »
Chinese champions need a harder dividend squeezeBeijing wants to help balance its books by making stingy state companies hand over more of the $500 bln they earned last year to shareholders. It’s a good idea, but the economic effect will be modest until deeper reforms are put back on the table.
Read more »
Hoping to assuage investors, Newmont offers special dividend if Goldcorp deal approvedNewmont Mining Corp will pay a special dividend of 88 cents in an effort to soot...
Read more »
Newmont's special dividend wins top investors over to Goldcorp dealNewmont Mining Corp won the support of at least two key investors for its $10 bi...
Read more »
5 things to know for March 20: Mueller, Electoral College, Christchurch, Monsanto5 things for Wednesday: - Mueller probe - Electoral College - Christchurch attack - Brexit - Monsanto
Read more »
To mark International Day of Happiness 2019, we rank the world's 20 happiest countriesThe U.S. is becoming increasingly unhappy, according to the latest edition of the annual World Happiness Report.
Read more »
Salesforce.com Turns 20: Its Early Hires Share Secrets To Its $125 Billion SuccessFormer employees talk about their lessons.
Read more »